It was a hairy down move this AM after a nice pop overnight. With less than expected Service PMI both SPX/ES and RUT took out their lows of BOJ break out day. They stopped at the IHS neck line formed on Jan 20. CL closed up 8% despite higher than expected crude inventory. Then a big reversal came at 3pm. It looks like a successful retest of the neck line and BOJ b/o point. We may see some upside movements from here. Of course anything can happen overnight.
I had 20 filled trades on both side. Some bear call orders got filled on the way down and new ones filled on the way up. I sold some Feb and March puts and CS as well. I may have sold bear calls too early. But I held off the temptation of selling more.
Risk factors stayed in line, similar to yesterday. Margin is still on put side which may give me a little more room to add calls and exit puts on target.
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